The Congress Sunday demanded imposition of financial emergency in Punjab while accusing the state government of indulging in selling and mortgaging government properties to run affairs of the debt-ridden state.

State Congress president Pratap Singh Bajwa, in a statement, strongly opposed the "reckless borrowing and sale of public properties by SAD-BJP government to clear its debt, pay salaries of staff and other day-to-day expenses".

Bajwa demanded that the president declare financial emergency in the state.

Terming it as an "unethical and unprofessional practice", he said the Akali Dal-Bharatiya Janata Party (BJP) government was indulging in a "fraud upon the people of Punjab".

"The Punjab government has already sold properties of Punjab Tourism Corporation at throwaway price to its favourites and has now begun mortgaging the land and buildings owned by Punjab Urban Development Authority (PUDA)," Bajwa alleged.

"What could be more shameful that the PUDA Bhawan in Mohali was also mortgaged for Rs.500 crore. PUDA has been asked to raise Rs.1,000 crore against its properties. The government has also borrowed Rs.3,500 crore from the market by auctioning state development funds," he claimed.

Bajwa said he would take up the issue of sale and mortgaging of government properties in Punjab with the central government and apprise it about the economic mess created by the present government.

He also accused Chief Minister Parkash Singh Badal of having lost control over the administration and also shielding corrupt ministers in his cabinet.